Mom or Dad has passed away and left a trust. You are named a beneficiary of the trust. Your brother or sister is the trustee. Do you really know what a trust is or does? Do you know what to …
Articles
With Will-Based Estate Planning Fees, You Get What You Pay For
Last week, we discussed trust-based estate planning fees. However, if your estate plan does not require the protections and benefits of a trust, then a will-based estate plan may be sufficient for you. These trust protections and benefits that are …
With Trust-Based Estate Planning Fees, You Get What You Pay For
You have been thinking about a trust-based estate plan. Many people choose a trust-based estate plan over a will-based estate plan. In our practice, most of our clients choose trust-based estate plans because they want the protections that a trust …
Savvy: Building Your Legacy Today
You are most likely charitably minded. Studies show that more than 80 percent of Michigan residents give annually to nonprofit charitable organizations. However, have you ever thought about what happens to those nonprofits after you are no longer around to …
Social Security Benefit Strategies Banned
You have probably heard about the changes coming to Social Security May 1, 2016. There seems to be some misconceptions and misrepresentations about these coming changes. Whenever there are changes like this, there always seems to be some unscrupulous financial …
You Don’t Need $1 Million for a Trust
You keep on hearing about trusts. Should you have one or should you not? The most common misconception that we hear on a fairly regular basis is “I don’t have enough assets to have a trust.” I heard it again …
Know What’s in Your Residential Care Facility Contract
You have been caring for your loved one at home for some time now. It has become increasing difficult. Although you have had help coming in to assist you, you are still exhausted. It is now to the point that …
Saving for Retirement with IRAs
Have you been saving for retirement? If not, you are with the majority of American households age 55 and older. According to a 2015 U.S. Government Accountability Office (GAO) report, only 48% of American households age 55 and over have …
Recognizing the Need for Outside Help in Caregiving
Are you or a family member caring for a loved one? Caregivers often don’t recognize when they are in over their heads, and often get to a breaking point. Caregiver burnout can creep up on you without you or anyone …
Top 8 Trust Funding Mistakes
You have your trust. You were told that to make it work, it has to be funded. Your estate planner maybe did a deed or a beneficiary designation, and then you were told that you had to do the rest …